USDA: Soybean production down 3% from 2021

U.S. soybean production is forecast at 4.31 billion bushels for 2022, down 3 precent when compared to 2021, according to the USDA National Agricultural Statistic Service’s latest Crop Production report, released Oct. 12.

Based on conditions as of Oct. 1, soybean yields are expected to average 49.8 bushels per acre, down 0.7 bushels when compared to the September forecast and down 1.9 bushels when compared to 2021 yields.

After a thorough review of all available data, the USDA said its acreage estimates are unchanged from last month. Total planted area, at 87.5 million acres, is unchanged from the September forecast but up less than 1 percent when compared to last year. Area harvested for beans in the U.S. is forecast at 86.6 million acres, unchanged from last month, but up slightly from 2021.